Partial draft of MINT00322 (Mint 19/2/111-16)

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Considerations about the valuesation of Gold & Silver in proportion to one another.

InA Spaininisan Pistole is recconed a was coyned for 33 Reaus or four Pieces of Eight Reaus, {illeg}, & is the 16th part of the weight thereof & of equallike allay

A Doppia Mœda or Moyder of Portugal was coyned for 4000 Res or ten Crusados & in the 16th part of the weight thereof & of Equallike allay.

Gold is therefore of sixteen times the valuby the standars of Spain & Portugal of sixteen times more value then silver of equal weight & like allay. according to their Standard. And at this rate a Guinea is of equal value with so much fine silver as is conteined in 212s. 1d English money of just weight & allay. & AndNow this high value of Gold carries away the{illeg} silver from Spain as fast as it comes from the west Indies, & the scarcity of Silver in Spain that kingdom. put them upon making their paymts at home in Gold & refusing to pay in silver without a premium of 5 or 6 per cent: at wch rate a Guinea is worth about 20.s 9.d or 10d.

In France by the Edict of May 1709 a new Lewidor iswas coyned for 20 livers or 4 new Lewises & is the fifteenth part of the weight thereof of equal allay And And by the same Edict fine Gold is valued at 15 times its weight of fine Silver. . At wch rate a Guinea is worth 20s 8d$\frac{\mathrm{1}}{\mathrm{2}}$. And by the same Edict fine Gold is valued at fifteen times its weight of fine silver.

A Ducat of Holland & the Empure {not a Hungary Ducat of Cremnitz) is current in Holland at 5 Guilders & 5 stivers, that is, at so much fine silver as is conteined in 9s 1$\frac{\mathrm{1}}{\mathrm{4}}$d English. At wch rate a Guinea is worth 20s 7d$\frac{\mathrm{1}}{\mathrm{2}}$. In Ita

According to the rates of Gold to Silver In Italy Germany & the northern Kingdoms, {illeg}w[the fine Gold in ] a Guinea may be worth so much fine Silver as is conteined in 20s 4d/, 5d 6d, 7d 7d or {illeg}8 for the proportion varies a little in thea little in the several Principalitiesgovernments of those regions of{illeg}within those regions counties.

In England therefore, that Gold & silver may keepkeep the same proportion to one another as in the neighbouring parts of Europe, a Guinea should be valued at 20s 7d{illeg} or 20d or 20s 8d or thereabouts. And if sixpence

Quare. I. Is it not the Interest of England to take of 6d from the Guinea, {illeg} or about? NB. 1 The sixpences coyned 18 years ago are lightned about 4 per cent by wearing. The shillings then coyned are lightned about 2$\frac{\mathrm{1}}{\mathrm{2}}$ per cent, the half crowns about 1$\frac{\mathrm{1}}{\mathrm{4}}$, & the Crowns about $\frac{\mathrm{3}}{\mathrm{4}}$ per cent. And thereby the old six pences & shillings are pretty well secured from the melting pot, & from being exportaled{illeg} by the Merchants

2 The new French Gold moneys are coyned coarser then they ought to be by about 1$\frac{\mathrm{1}}{\mathrm{6}}$ by their standardthe Kings Edict by about 1$\frac{\mathrm{1}}{\mathrm{5}}$ per cent. And this is so much loss to the subjects of France who export Gold into England. But the high price of Gold in England makes them a tripple reia or pence.

Qu. 2. If this be not done; Whether oughtwill not men that have silver, to begin to soon to refuse to make payments therein without a premium of 3, 45 or 78 per cent ot an half penny in the shelling?

In Italy & Germany & Italy & Poland about 14 years ago, the Gold was to silver of equal weight & fineness as 14$\frac{\mathrm{3}}{\mathrm{4}}$ or 14$\frac{\mathrm{7}}{\mathrm{8}}$ to 1 or thereabouts. And at this rate a Guinea was worth about 20s 6d$\frac{\mathrm{1}}{\mathrm{2}}$ or 20s 1$\frac{\mathrm{1}}{\mathrm{2}}$dthere worth about 20s 56d or within 2d over or under

In Germany & Italy Gold is valued something lower the in France & Holland.

✝And if 6d were taken from the Guinea, yet Gold would be still higher in England in proportion to silver then in any other part of Europe.